Western Alliance exec settles 415 RSUs at $79

CBO for Regional Banking Tim R. Bruckner reported cash-settled RSU vesting activity tied to 415 common-share equivalents with offsetting acquisitions and dispositions.

Rhea-AI Filing Summary

WESTERN ALLIANCE BANCORPORATION executive Tim R. Bruckner, Chief Banking Officer for Regional Banking, reported activity on September 15, 2026 involving cash-settled restricted stock units tied to the company’s common stock. Three small tranches of units, economically equivalent to an aggregate of 415 shares of common stock, were exercised or converted, with corresponding entries showing equal acquisitions and dispositions of common stock at $79.03 per share. Footnotes state these units vest monthly over multi‑year periods, are payable solely in cash, and each unit is the economic equivalent of one share of common stock, and no Rule 10b5‑1 trading plan is reported.

Insider Trade Summary

415 shares exercised/converted

Exercise 9 txns

Insider Bruckner Tim R

Role CBO for Regional Banking

Type	Security	Shares	Price	Value
Exercise	Cash Settled Restricted Stock Units F2, F1	158	--	--
Exercise	Cash Settled Restricted Stock Units F2, F3	115	--	--
Exercise	Cash Settled Restricted Stock Units F2, F4	142	--	--
Exercise	Common Stock F1, F2	158	$0.00	$0.00
Disposition	Common Stock	158	$79.03	$12K
Exercise	Common Stock F3, F2	115	$0.00	$0.00
Disposition	Common Stock	115	$79.03	$9K
Exercise	Common Stock F4, F2	142	$0.00	$0.00
Disposition	Common Stock	142	$79.03	$11K

Holdings After Transaction: Cash Settled Restricted Stock Units — 6,859 contracts (Direct); Common Stock — 29,068 shares (Direct)

Footnotes (4)

1. F1. These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2024 and ending February 2027.
2. F2. Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock.
3. F3. These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2025 and ending February 2028.
4. F4. These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2026 and ending February 2029.

Key Figures

Cash-settled RSU equivalents exercised or converted: 415 units First RSU tranche share equivalent: 158 units Second RSU tranche share equivalent: 115 units +3 more

6 metrics

Cash-settled RSU equivalents exercised or converted 415 units Aggregate economic equivalent of common stock on September 15, 2026

First RSU tranche share equivalent 158 units Cash-settled restricted stock units tied to common stock on September 15, 2026

Second RSU tranche share equivalent 115 units Cash-settled restricted stock units tied to common stock on September 15, 2026

Third RSU tranche share equivalent 142 units Cash-settled restricted stock units tied to common stock on September 15, 2026

Disposition price to issuer $79.03 per share Price for each of the three dispositions of common stock to the issuer on September 15, 2026

Vesting schedule length 36 months Units vest 1/36th each month over three-year periods beginning March 2024, March 2025, and March 2026

Key Terms

Cash Settled Restricted Stock Units, economic equivalent, disposition to issuer

3 terms

Cash Settled Restricted Stock Units financial

"These units vest and are payable solely in cash as follows"

Cash-settled restricted stock units are employee compensation promises that mirror the value of company shares but pay out in cash instead of delivering actual stock once the units vest. Think of them as a future paycheck tied to the company’s share price that is paid after time or performance conditions are met. Investors watch them because they create future cash obligations for the company and avoid share dilution, both of which can affect earnings, cash flow and per-share metrics.

economic equivalent financial

"Each unit is the economic equivalent of one share of Western Alliance"

disposition to issuer financial

"Disposition to issuer for common stock entries on September 15, 2026"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did WAL executive Tim R. Bruckner report on this Form 4?

Tim R. Bruckner reported activity on September 15, 2026 involving the exercise or conversion of cash-settled restricted stock units tied to 415 common-share equivalents, with matching acquisitions and dispositions of common stock at $79.03 per share recorded on the same date.

How many Western Alliance Bancorporation (WAL) cash-settled RSUs were involved?

The filing shows three transactions in cash-settled restricted stock units, economically equivalent to 158, 115, and 142 shares of Western Alliance Bancorporation common stock, for a total of 415 share equivalents tied to the reported vesting and settlement activity.

Were the WAL cash-settled RSUs actually settled in stock or cash?

Footnotes state the units vest and are payable solely in cash, and that each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock, indicating settlement in cash rather than delivery of actual shares.

What prices were associated with the WAL common stock entries on this Form 4?

For the non-derivative common stock entries on September 15, 2026, the acquisitions related to the unit conversions show a price of $0.00 per share, and the corresponding dispositions back to the issuer show a price of $79.03 per share for each of the three share amounts.

Did Tim R. Bruckner use a Rule 10b5-1 trading plan for these WAL transactions?

The Form 4 indicates that these transactions were not reported as being made under a Rule 10b5‑1 trading plan, and the document-level trading plan checkbox is not marked as affirmative.

Over what periods do the reported WAL cash-settled RSUs vest?

Footnotes state that the units vest and are payable solely in cash in 1/36th monthly installments over 36‑month periods beginning March 2024, March 2025, and March 2026, ending in February 2027, February 2028, and February 2029, respectively.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/17/2026 - 05:02 PM Accepted by SEC EDGAR 09/17/2026 - 05:02 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Bruckner Tim R

(Last) (First) (Middle)

ONE E WASHINGTON ST., SUITE 1400

(Street)

PHOENIX ARIZONA 85004

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
WESTERN ALLIANCE BANCORPORATION [ WAL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CBO for Regional Banking

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/15/2026		M		158(1)	A	$0(2)	29,226	D
Common Stock	09/15/2026		D		158	D	$79.03	29,068	D
Common Stock	09/15/2026		M		115(3)	A	$0(2)	29,183	D
Common Stock	09/15/2026		D		115	D	$79.03	29,068	D
Common Stock	09/15/2026		M		142(4)	A	$0(2)	29,210	D
Common Stock	09/15/2026		D		142	D	$79.03	29,068	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Cash Settled Restricted Stock Units	(2)	09/15/2026		M			158	(1)	(1)	Common Stock	158	(2)	797	D
Cash Settled Restricted Stock Units	(2)	09/15/2026		M			115	(3)	(3)	Common Stock	115	(2)	1,953	D
Cash Settled Restricted Stock Units	(2)	09/15/2026		M			142	(4)	(4)	Common Stock	142	(2)	4,109	D

Explanation of Responses:

1. These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2024 and ending February 2027.

2. Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock.

3. These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2025 and ending February 2028.

4. These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2026 and ending February 2029.

Remarks:

	/s/Jessica Jarvi (Attorney-in-fact)	09/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)